IBERDROLA INMOBILIARIA has just opened a hotel in Lanzarote, which was refurbished in 2010 and will be managed by Luabay hotels&leisure, Orizonia Corporación’s hotel division.

The hotel, which was inaugurated in 1989, is just a stone’s throw from the Cucharas beach in the centre of Costa Teguise, one of the island’s best locations for water sports, particularly windsurfing.

The whitewashed Luabay Lanzarote Beach hotel is three stories high and boasts a large central area with two swimming pools and three restaurants (one buffet-style, another specialising in Mexican cuisine and a third one offering Spanish tapas), a lounge bar, a children’s play area and a gym. Many of the bedrooms have a sea view.

Following the refurbishment, the all-inclusive hotel aspires to become a focal point in the tourist business in Lanzarote. Luabay hotels&leisure operates another four hotels and two apartment complexes in the Canary Islands and a fifth hotel in Murcia.

IBERDROLA INMOBILIARIA offers a broad portfolio of products, ranging from primary residences to holiday homes, office buildings, industrial warehouses and shopping centres, and property support consulting and third-party property management. The company currently owns rental property with more than 245,000m² of gross leasable area (GLA).